Spot truckload rates rise for third straight month in June
DAT reported in July 2024 that June spot rates climbed for all three equipment types even as load volumes pulled back from May records.
In July 2024, DAT Freight & Analytics reported that national average spot truckload rates rose in June for the third consecutive month, even as the number of loads moved declined. DAT released the report on July 17.
Volumes ease from May highs
The DAT Truckload Volume Index retreated from all-time highs for van and refrigerated loads set in May. The van index was 266, down 9% from May. Reefer was 199, down 11%, and flatbed was 279, down 7%.
From a year earlier, the van and flatbed indexes were down 3% and 5%. The reefer index was up 7% from June 2023.
Ken Adamo, DAT's chief of analytics, said June "ended strong for dry van freight," with nearly 25% more volume moving in the final week of the month than a year earlier. He said DAT expected freight activity to ease during the summer and called it "a challenging market for freight carriers and brokers."
Spot and contract rates
Spot rates in June:
- Van: $2.07 a mile, up 6 cents
- Reefer: $2.45 a mile, up 4 cents
- Flatbed: $2.53 a mile, up 1 cent
Line-haul rates, which subtract an amount equal to an average fuel surcharge, also rose. Van line-haul was $1.64 a mile, up 6 cents. Reefer rose 5 cents to $1.99, and flatbed rose 1 cent to $2.02.
Contract van rates ticked up 1 cent to $2.44 a mile, and contract reefer rose 2 cents to $2.81. Contract flatbed fell 2 cents to $3.14.
What it meant for carriers
Van and reefer load-to-truck ratios rose for the fourth straight month. DAT said that reflected a combination of higher demand and fewer trucks in the marketplace. The van ratio was 4.7, up from 4.4 in May, and the reefer ratio was 7.0, up from 6.3. The flatbed ratio fell to 14.6 from 18.0.
All three ratios were higher than a year earlier, when the van ratio was 3.5, reefer 5.5 and flatbed 13.3.